HDFC AMC receives Rs 167 crore from Essel group

NEW DELHI: HDFC Asset Management Company has received Rs 167 crore as part-repayment and interest from Essel group, ETNow reported quoting agencies.

The asset management company exposure to Essel Group bonds stood at Rs 276 crore at the end of September quarter.

Now the residual value of pledged Essel Group shares stands at Rs 144 crore, the report added.


In September, the group had sold 11 per cent stake in Zee to Invesco-Oppenheimer fund for over Rs 4,224 crore and then retired debt worth Rs 4,000 crore.

Shares of HDFC AMC pared some losses after the media report. The scrip bounced from its intraday low of Rs 3,439.90. The shares of the company closed 0.16 per cent higher at Rs 3593.60 on BSE.